FTX BINANCE DRAMA? What could tank crypto market?

https://decrypt.co/113674/binance-moves-to-liquidate-its-entire-position-in-ftx-tokens

"Binance CEO Changpeng “CZ” Zhao said on Sunday that his cryptocurrency exchange is liquidating its holdings of FTT, the native token of rival exchange FTX.

Zhao referenced "recent revelations that have came to light," but did not elaborate publicly nor respond to a request for clarification from Decrypt."

CZ wrote, "As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1/4"

So what's the concern? Well not that it doesn't already sound ominous one user on Twitter suggested that "the selling could have an impact on loans backed in the token."

Or great another Celsius!

Alameda Research which is an asset of FTT is in "trouble"

The fuss is the Fly-wheel scheme. Same model as Celsius.

This is not 100% for sure but here we may be going again. Looks like we 'might' be getting some leg down. Funny I thought FTX was all about getting market 'regulation'. Listen these things need to be liquidated out of the market regardless. It's better the monster doesn't get too big to completely destroy the market.

Posted Using LeoFinance ^Beta